DAX VIX Soars As German Stocks Plunge Most This Year

…when you combine that batshit crazy scenario with the new report on automaker collusion and a surging euro, what do you get? Well, you get the worst day for German equities this year.

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Stocks Fall Across The Globe As Hawkish Central Banks, Washington Jitters Roil Risk

Well, the overnight action was predictable under the circumstances, but it’s nevertheless unnerving for anyone long risk at these levels. A day after Mario Draghi took what certainly seems to have been a hawkish turn by saying the ECB would “look through” lackluster inflation data, the euro hit a 1-year high: “Macro accounts jumped on…

Russell Shuffle Day, Brexit Anniversary, & Crude Carnage

It’s Russell reshuffle day, which means equities will likely be jarred out of any summer lull, if only for a moment. As Bloomberg notes, “in four of the last five years, reconstitution day ranked in the 10 busiest trading sessions, [but] at the same time, it rarely triggers big price swings in the market.” It’s…

Storm Clouds Gather As Trump Headline Risk, Terror Attack Battle Econ Data For Market’s Heart

Well, this market’s mettle is being tested. Again. On Monday evening we got what might fairly be described as the worst kind of double-whammy: a WaPo report containing new revelations about Donald Trump’s attempts to obstruct justice in the Russia probe and a terrorist attack that killed 22 people in Manchester. The knee-jerk risk-off move…

Finally Friday: Oil Looks For Weekly Gain; EM, Euro Surge; Merkel Meets America’s Useful Idiot

Well, it’s quiet out there as an exceptionally eventful week (finally) winds down. As we head into the weekend, oil is trying to eek out a gain on the week, after a surprise inventory draw (reported first by API on Tuesday and then confirmed a day later by the weekly EIA print) shored up a…

The First Week Of The Rest Of Your Life

Welcome to the first week of the rest of your life. By now you all know what’s coming and if you don’t, well, you can review the HR weekend reading or you can simply scan the short version here. Overnight, the action found the dollar adrift (although it did bounce a bit later in the…